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Seoul Stocks Gain on Wall Street Performance

Seoul: South Korean stocks opened higher Wednesday, tracking overnight gains on Wall Street led by strong U.S. economic data and robust tech shares. The benchmark Korea Composite Stock Price Index (KOSPI) added 15.5 points, or 0.38 percent, to 4,132.82 in the first 15 minutes of trading.

According to Yonhap News Agency, major U.S. indexes ended higher overnight, following reports of stronger-than-expected growth in the world's largest economy and a bullish run of blue-chip tech shares. The Dow Jones Industrial Average added 0.16 percent, while the tech-heavy Nasdaq composite grew 0.57 percent, and the S and P 500 gained 0.46 percent.

Artificial intelligence chip giant Nvidia jumped over 3 percent after the office of the U.S. Trade Representative announced a delay in imposing new tariffs on Chinese chips for 18 months. This decision positively impacted the technology sector.

In Seoul, tech giant Samsung Electronics rose by 0.45 percent, with its chipmaking rival SK hynix increasing by 0.51 percent. Top automaker Hyundai Motor jumped 2.44 percent, while its sister company Kia climbed 1.16 percent. Hyundai's auto parts subsidiary, Hyundai Mobis, also saw a rise of 2.75 percent.

Leading battery maker LG Energy Solution advanced by 1.16 percent. However, the shipbuilding sector showed mixed results, with Hanwha Ocean rising 1.46 percent, while HD Hyundai Heavy and HD Korea Shipbuilding fell 0.94 percent and 1.27 percent, respectively.

The Korean won was trading at 1,469.7 against the U.S. dollar, up 13.9 won from the previous session's close, as Korea's foreign exchange authorities stated that an excessively weak won is not desirable.

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